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Crown Castle cash flow statement

In fiscal 2025, Crown Castle's operations generated $3.06bn of cash; it spent $182m on capital projects, leaving free cash flow of $2.88bn. It returned −$2.08bn in dividends and −$23.0m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations5716036437731,1711,6001,7941,7872,0322,5002,6983,0552,7892,8783,1262,9433,0572,624
Depreciation and amortisation5305415536237419861,0361,1091,2411,5271,5721,6081,6441,707787736690680
Stock-based pay293733423951617992103117138129156102847384
Capital spending174228348441535759909874−1,2171,7392,0571,6241,2291,310243176182218
Free cash flow3983752963316368428859133,2497616411,4311,5601,5682,8832,7672,8752,406
Free cash flow after stock pay3683392632895977908248343,1576585241,2931,4311,4122,7812,6832,8022,322
Dividends paid———006241,1161,239−1,5091,7821,9122,1052,373−2,602−2,723−2,729−2,080−2,301
Share buybacks31603033699223025−2334447670−65−30−33−23971
Shares issued4519202,9813,00001,3264,22184100——————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Crown Castle's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Crown Castle.